Inter Bank Fund Transfer
Interbank fund transfer (IBFT) is a way to transfer funds from one bank account to another, between participating financial institutions, locally or internationally. IBFT is a secure and cost-effective method for businesses to effect large value transactions, and for consumers to pay for goods or services directly from their bank account, using their online banking login details.
Web shops, merchants and other business that seek to offer their customers a secure and easy payment method, choose to integrate IBFTs into their system due to the following advantages:
- Immediate deposit from purchaser’s bank account to your business’s or organization’s account
- Customers can pay through online banking system they’re familiar with and have trust in
- Irreversible transactions into the retailer’s account followed by immediate confirmation
- Real-time, retrospective and postponed payments enabled
- Multi-currencies transactions supported, at low or no exchange rate costs
Millions of consumers already use IBFT to pay online for a wide variety of products and services, including:
- Online purchases
- Utility bills or monthly subscriptions
- Local taxes, traffic fines and more
By offering IBFTs as a payment method, you can expand your customer base and provide a higher level of consumer experience to existing and new customers, with the following benefits:
- Payments are proceeded in real time and appear in purchaser’s bank account immediately after transaction is confirmed.
- Ease of use: no need in registration, downloads, creating account, etc.
- Full control of payments.
To learn about requirements and type of contract you may need to integrate interbank fund transfers into your online payments system, contact us.